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HomeMy WebLinkAbout03/18/2008 08 Purchase of Real Property for Yakima Food Bank Relocation 0 BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEMENT Item No. For Meeting of: March 18, 2008 ITEM TITLE: Resolution approving a $130,000 grant from the City's Community Development block Grant program to the Yakima Food Bank for the purchase of real property and relocation of their program. SUBMITTED BY: Bill Cook, Director, and Community & Economic Development CONTACT PERSON/TELEPHONE: Bill Cook, 575 -6113 SUMMARY EXPLANATION: These funds will be part of a total budget of $285,000 needed to purchase and improve property at 313 -315 South Second Street and to relocate the food bank. The $130,000 grant is contingent upon the following: a. Satisfactory appraisal of the property; . b. The submission of a business plan showing operating expenses and Tong -term cash flow ID projections; c. Successful fundraising totaling at least $155,000 for this project; d. Prior to funding from the City, the project must be reviewed and approved under federal NEPA and all other applicable state and federal environmental requirements; e. Execution of a lien in the City's favor for $130,000 subject only to a first lien for acquisition financing (if any); f. No occupancy of the property by the Food Bank until a purchase closing occurs. This is an approved use of CDBG Economic Development funds and will provide an opportunity for the Yakima Food Bank to relocate to a larger, more efficient space. This proposal was discussed at the February 13th and February 19th meetings of the Council Neighborhood Development Committee and was recommended for full Council consideration. Resolution X Ordinance Other (Specify) Contract Mail to (name and address): Phone: Funding Source APPROVED FOR SUBMITTAL: _ -►, City Manager STAFF RECOMMENDATION: Approve Resolution with conditions. 0 BOARD /COMMITTEE/COMMISSION RECOMMENDATION: Council Neighborhood Development Committee recommends consideration with conditions. COUNCIL ACTION: RESOLUTION NO. R -2008- A RESOLUTION approving a $130,000 grant request from the Yakima Food Bank to be made from federal CDBG funds to match private funds to be raised for the purpose of purchasing and improving a building at 313 -315 South Second Street for the Yakima Food Bank. WHEREAS, the City of Yakima is a recipient of federal Community Development Block Grant funds which may be used, among other things to assist public services benefitting low and moderate income families; and WHEREAS, the Yakima Food Bank is requesting a grant of $130,000 in CDBG funds to match an estimated $155,000 of private donations to purchase property and relocate the Yakima Food Bank; and WHEREAS, these funds will be part of a total budget of $285,000 needed to complete this relocation of the Yakima Food Bank; and WHEREAS, the Yakima Food Bank has provided food to families of Yakima since the 1970's and provides groceries to approximately 1600 persons per week; and WHEREAS, the Yakima Food Bank has outgrown its current location in a City owned house located on the Southeast Community Center property; and WHEREAS, the City Council has determined that it is in the best interest of the City to authorize and approve the $130,000 grant request from the Yakima Food Bank to be used as a match, now, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF YAKIMA: 1. A grant of $130,000 in CDBG funds to the Yakima Food Bank for the purpose of purchasing property and relocating their current program to 313 -315 South Second Street, is hereby authorized and approved, subject to the following conditions: a. Satisfactory appraisal of the property; b. The submission of a business plan showing operating expenses and long -term cash flow projections; c. Successful fundraising totaling at least $155,000 for this project; d. Prior to funding from the City, the project must be reviewed and approved under federal NEPA and all other applicable state and federal environmental requirements; e. Execution of a lien in the City's favor for $130,000 subject only to a first lien for acquisition financing (if any); f. No occupancy of the property by the Food Bank until a purchase closing occurs. 2. This commitment of $130,000 of matching funds shall expire within six months of the date Council approves this Resolution unless all of the above conditions have been met, or Council • approves an extension. 1 3. The City Manager is hereby authorized and directed to execute all necessary grant documents including a grant agreement, between the City of Yakima and the Yakima Food Bank. The final form of these documents shall be reviewed and approved by the City Attorney. ADOPTED BY THE CITY COUNCIL this 18th day of March, 2008. ATTEST: David Edler, Mayor City Clerk • 2 HELP US FIGHT HUNGER... YAKIMA FOOD BANK Post Office Box 9516 DISTRIBUTION: Yakima, WA 98909 -0516 Fridays 10 AM — 1 PM Phone: 509 307-1178 On Central Ave at 7 St yakima.food.bank @charter.net February 8, 2008 Yakima City Council 129 North 2" Street Yakima, WA 98901 Re: Securing a new facility and moving the Yakima Food Bank Greetings Honorable Council Members: Our goal is to alleviate hunger. We of the Yakima Food Bank —the only one that is not affiliated with either a governmental or religious organization- - provide groceries to 270 - 325 families every week. This benefits more than 1,600 persons each week seeking aid in Yakima. And, no one is paid wages. Our efforts began the 1970s distributing food from the backs of cars. We have greatly appreciated using the City's building located on the Southeast Community Center property for several years. With our growth; however, that • building is less than adequate for safe distribution and spatial requirements. We have replaced floor beams in much of the building but other sections of the floor are reeling under the load of stored foods and the massive human traffic passing over it weekly. We're concerned that parents waiting in the food line accompanied by young children are not a safe mix with drivers en route to /from the Southeast Community Center and unaware of their presence. Likewise, parking is inadequate whenever the SECC has a Friday function. We have an agreement to purchase the former Carey Motors lot and building at 313 -315 South 2n Street in Yakima. This building is very well suited to our current and foreseeable future needs. Its location is central to the homes of those who most frequently seek our help to obtain nutritional aid. It will enable the YFB to provide beneficial information and good nourishing . food to many defenseless families in Yakima who might otherwise suffer in hunger. The property costs $225,000 plus an additional $35,000 to build refrigeration rooms and set up for food distribution. We ask you for a Block Grant of $130,000 (1/2 the cost) to secure the purchase and demonstrate to potential donors that we have a viable building program. Please help us enrich the lives of families who might otherwise have to choose - - medicine, rent or groceries. Very truly yours, a a : * SC( / 1 " / Earl Hall, President R ; h Lawson, ' reasurer C arence Gipson, Secy. CITY OF YAKIMA, NEIGHBORHOOD DEVELOPMENT SERVICES APPLICATION FOR NON - PROFIT BUILDING PURCHASE AND DEVELOPMENT EXPENSES PART I. GENERAL INFORMATION ill ,4. , rtLI!,:,, ,-„T,i i Tr, ` 1tli J...i i ,„F „ 1 J.'Y v 0( 7oS o, E ., t Tiliriiv, -_, l' Applicant Yakima Food Bank Name Same Contact Clarence Gipson, General manager Address Address PO Box 307 -1178 City/State/Zip City/ State/Zip Yakima, WA 98909 -0516. Telephone ( ) Telephone ( 509 ) . 972 -7809 Email Address Fax ( ) Application Preparer (check one) Email Address ❑ Low Staff ❑ Out -of -State Consultant ❑ In -State Consultant ❑ Non -Profit Organization Federal ID # ❑ Economic Development District ❑ Other 3. TYPE OF APPLICANT 4. SERVICE AREA x Non -Profit 501 (c) (3) Area to be served (city, county, region, etc) City of Yakima 5. Project Description - 6. Activities (check all that apply) After more than 30 years of providing food to needy Yakima residents, • ® Improve current services and activities the Yalima Food Bank is coming to the City of Yakima with a request ® Expand service area - Our current building is breaking down under the huge demand for our services, and is completely inadequate. Expanding at the present location El Build capacity to undertake new activities is not an .option. We have made and had accepted an offer to purchase ® Planning for a new project another building that will meet our needs for many years. We are asking the City to fund 1/2 of the cost of this new building. ❑Technical Assistance. Please specify a �t , fil ' i - i {. ra; . . ..+ tki -,,. f it , St-e t . i ,;;,. :! -I's> +. a 'iki - 3 ; #,^ a t t*l , % ,,. s , €. t.tr . E..:ttr ' {fib � `. . 2 , ,. , r � r .�` -7 7 i' 'i f y r - i� 5� t .. .�,. 4 To the best of my knowledge and belief, loth, information, and documentation in this application are true and correct, including any commitment of local or other resources. The goveming body of the non -profit organization has duly authorized this application. This applicant wil mmply with i State irem .governing the. use of Housing funds. • , � (/ #C--' �? Clarence Gipson, General Manager 2 -27 =08 Signature Typed Name and Title Date � p0`` C. �! l�.C©� Nebraska Affordable Housing Program 2007 Application Guidelines Page 5 -3 Chapter 5 Non -Profit Operating Assistance Information October 2006 • • NON - PROFIT BUILDING PURCHASE AND DEVELOPMENT EXPENSES 4111 PART II. FUNDING SUMMARY (Round a mounts to the nearest )hundred dollars.) 4 it 1 , i ty o `Total , Sources o Acttvity almma iOtherlFunds Fun Other +un 3 i : ._ � r.: - .. . •: . . { -'q .... r .. s ... .. .. Purchase Price $112,500 $112,500 $225,000 ' Donations • . Building Development - $17,500 $17,500 • $35,000 < Donations . Operating Expenses � 0 $25,000 . $25,000 _: Donations • � x 1 � a ... S i s � • o `tq �'� ` , A Tr s 'Ht,3 of ,-,., -�, v ,, , x i,,. s r� '`;-4. Y- ` c.44;. `r= ,1 .1.`1,'s ( "s'a ' J f u t-*ffi 7,t U'�A? � f � ylv+ F'�4; F �'., `�'" �n. 4+3+ �' , }�,� o {� 7c.�u � �:', ° :�, N'',.jgzr- 3 'N... 4 ` _' :r to sue! t* : .,+r+,�TEe - .Ai #S '` . �� c 3:'C .✓ ... k �'rtI w+oi .. xt ; , -xt TotalProgram=Costs 1 '$130,000_ .1 $155;000 . 1 $285,000 ;`I Donations • • 0 . • • • • 411 • . . • • • . . . . • . • . . . . • • • . . . Nebraska Affordable Housing Program 2007 Application Guidelines . Page 5-4 • Chapter 5 Non -Profit Operating Assistance Information October 2006 - 0 0 • 6 ds "iv? - - -''''':.4§.. 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( "Buyer ") the sum of $500.00, check for $500:00 which has been deposited with the Selling Broker as earnest money (Broker shall deposit any earnest money check only after mutual acceptance) in part payment for the purchase price for the following real property located in the City of Yakima, County of Yakima, Washington, commonly known as 313 and 315 S. 2 Street, Yakima WA. 98901 ( "Property"). The Seller agrees to sell and convey, and the Buyer agrees to purchase according to this Agreement the Property legally described on attached Exhibit "A ". (If the legal description of the real estate is omitted, incomplete, or inaccurate at the time of signing, this Agreement shall not be invalidated. The Closing Agent is authorized to insert or attach the correct legal description.) 1. PURCHASE PRICE. The total purchase price shall be Two Hundred Twenty Five Thousand AND NO /100 DOLLARS ($225,000.00). 2. METHOD OF PAYMENT. The purchase price shall be paid as follows: Cash at Closing including Earnest Money. 3. CONDITION OF TITLE. The status of Seller's title will be shown in a Preliminary Commitment for a X Standard _ Extended Owner's Coverage Title Insurance Policy ( "Preliminary Commitment ") issued by Pacific Alliance Title Insurance Company, which Preliminary Commitment will be ordered by Seller, or Seller's agent within five (5) days of mutual acceptance. The Seller shall pay the cost for a standard policy. If the Buyer chooses an extended owner's policy, the buyer shall pay the difference in cost between the standard owner's policy, and the extended owner's policy. In addition, the Buyer shall pay the estimated cost of any survey required for an extended owner's policy. Said Preliminary Commitment shall have attached photocopies of all documents shown as encumbrances to the Seller's title. Title is to be free of all encumbrances or defects, except those approved by Buyer, as set forth herein, and the following shall not be deemed encumbrances or defects: tenants in possession pursuant to written leases; rights reserved in federal patents or state deeds; building or use restrictions general to the area, other than government platting and subdivision requirements; easements not inconsistent with Buyer's intended use; and reserved oil and /or mining rights ( "Permitted Exceptions "). The Buyer shall be considered to have accepted the condition of title Revision Date: 7/11/07 1 Form 367 -10 26. FAXES AND COUNTERPARTS. Facsimile transmission of any signed original document, and retransmission of any signed facsimile transmission shall be the same as delivery of an original. At the request of either party, or the closing agent, the parties will confirm facsimile transmitted signatures by signing an original document. This agreement may be signed in counterparts. 27. LIMITATION ON SELLER'S TIME FOR ACCEPTANCE. Seller shall have until 4:00 P.M. on January 17, 2008, to accept this Agreement by delivering a signed copy to the Selling Broker at 111 S. 33 St., Suite 100, Yakima WA. 98901. If Seller fails to deliver a signed copy this Agreement shall lapse, and the earnest money deposit shall be refunded to Buyer. SELLING BROKER: BUYER: 7. Ki ,44,4 r let , / .u- Almon Commercial Real Estate —� G )i Name of Company DATE: 74-A-1 y 2e'o , 2008. n � . • :? .�.� /By: Salesperson DATE: /---/ , 2008 /J /-� 5 , %�f1.� ' z// ` `%C' 5 Buyer's Address 5 / T 2 -? D? Office ne Home Phone 28. SELLER'S ACCEPTANCE. The Seller accepts and approves this Agreement. LISTING BROKER: SELLER: Name of Company By: 40 Salesperson Revision Date: 7/11/07 7 Form 367 -10 Page 1 of 1 Regimbal, Tammy From: David Mc Fadden [davemc ©ycda.com] Sent: Thursday, March 13, 2008 11:27 AM To: Regimbal, Tammy; Morales, Michael Subject: Yakima - Italstone v2 • Attachments: Yakima - Italstone v2.doc Hi Tammy: I am dropping off maps, engineering estimates, and project description to your front counter in the next hour. They go along with the attached SIED application that Bill and I worked on the other day. I highlighted an area that needs updating within the application... but this does not have to come back to me in final form until next Thursday 3/20. David McFadden • • i 3/13/2008 • Yakima County SIED Fund Supporting Investments in Economic Diversification Application for funding • i Yakima County SIED Board Supporting Investments In Economic Diversification III APPLICATION FOR FUNDING CERTIFICATION Applicant: City of Yakima Federal Tax Number: 91- 6001293 Contact: Bill Cook Title: Director of Community & Economic Development Telephone: 509/575 -6113 Fax: 509/576 -6792 Email: bcook @ci.yakima.wa.us Address: 129 North 2 Street Yakima, WA 98901 Indicate the minimum necessary total public project infrastructure costs. Amount of SIED loan requested: $214,000 (see Policies for limits) 0 Amount of SIED grant requested: $214,000 (see Policies for limits) Local match (minimum 10% of SIED request): $107,000 List other funding source(s): TOTAL ptibllc.proiectcosts:. ' . $535,000 . . TOTAL private investment in plant/equipment $700,000 Project title: • Resolution # authorizing application: TBD Declaration: I HEREBY CERTIFY THAT THE INFORMATION GIVEN IN THIS APPLICATION TO THE SUPPORTING INVESTMENTS IN ECONOMIC DEVELOPMENT BOARD IS TRUE AND CORRECT TO THE BEST OF MY KNOWLEDGE AND BELIEF. Signature of Responsible Official: Print or Type Name and Title: Richard A. Zais, Jr., City Manager III Application for Funding, 1998 Page 2 Yakima County SIED Program Yakima County SIED Board Supporting Investments In Economic Diversification • A. REQUEST FOR FUNDING Al. Indicate the full terms requested for SIED consideration. A SIED loan is a general obligation of the jurisdiction receiving the loan. With acceptance of a SIED loan, the jurisdiction agrees to the terms of the interlocal agreement regardless of the project which prompted the application for SIED funding. • • A loan of: $ 214,000 • A grant of $ (maximum 40% of project costs *). 214,000 • A deferral of the first loan payment (up to five years): 1year • Loan terms requested: •Total number of years for repayment: _5 years • Justify a request for a deferral of the first loan payment. What is the basis for a lower interest rate request? The City needs a one year deferral to ensure that the private facility is constructed, operational, and triggering local property tax payments B. PUBLIC SECTOR PROJECT B1. Describe the entire public facility project, including the parts that you are not asking SIED to fund. The project involves constructing approximately 870 linear feet of roadway to industrial standard. Sidewalks, curb and gutters and lighting will also be built on both sides of this roadway. Water and sewer utilities will also be extended to parallel road improvements. B2. Will this project upgrade an existing public facility? Build a new one ?. Describe. This project will build a new street (23 Avenue) off of Ahtanum Road and extend Oak Street so it provides a full loop within the business park. Water and wastewater utilities will also be • extended from the cities existing lines near Ahtanum Road. • Application for Funding, 1998 Page 3 Yakima County SIED Program Yakima County SIED Board Supporting Investments In Economic Diversification 411/ B3. List all funding sources for the public project and amount. SOURCE STATUS DATE AMOUNT SIED fund application submitted March 2008 $400,000 B4. Specifically, for what element(s) of the public project are SIED funds requested? Construct roadway improvements and sidewalk, curb and gutter. B5. Include a site map of the area. Identify the location of the site, public infrastructure and private development project (existing and /or proposed). Specifically identify where SIED funds are proposed to be used. B6. Attach engineering estimates supporting project costs. Identify whether estimates are from preliminary engineering or design engineering work. (Attention: SIED will not entertain requests for additional funding if projections are insufficient.) B7. Describe how the public facility project will enhance or encourage other development in the immediate area in addition to the direct development described in this application (Section D.) Significant improvements have been made to the area in recent years to encourage business growth of existing and new companies in and around the airport. These improvements • include over $7 million to widen and improve Washington Avenue, $880,000 to install a fiber - optic loop around the airport, and several SIED funded projects to assist business expansion (Cub Crafters, Cascade Quality Molding, Yakima Air Park LLC, etc.). itc. t' '� o B8. List all permits and environmental reviews required for the PUBLIC SECTOR PROJECT and give their current status (applied for, application being prepared, permit issued, etc.) ANTICIPATED • COMPLETION PERMIT ISSUER STATUS DATE SEPA City of Yakima exempt B9. If environmental permits are not required for the project (e.g., Shorelines Permit, Environmental Impact Statement, etc.), please explain why they are NOT required. B10. Estimated schedule for public project completion. Indicate the month and year when the activities listed have been, or will be, completed. ESTIMATED COMPLETION DATE Preliminary Engineering Report Complete Environmental Review NA All Required Permits Obtained NA Design Engineering April 2008 Land /Right -of -Way Acquisition Complete Prepare Bid Documents April 2008 Award Construction Contract May 2008 Begin Construction June 2008 Project Operational July 2008 Application for Funding, 1998 Page 4 Yakima County SIED Program Yakima County SIED Board Supporting Investments In Economic Diversification B11. What other jurisdictions, such as counties, cities, port districts, tribes, state /federal agencies are involved in tl� jurisdictions, P � 9 planning, design, financing, construction or operation of this project? Yakima Air Terminal Please explain how completion of the project is coordinated between other involved parties. B12. Will the SIED public facility project be totally maintained by the applicant? If not, whom? Please explain. Yes B13. How will this project impact utility rates and public services within the jurisdiction? No Impact B14. Is this project consistent with your local comprehensive and capital facilities plans? If no, please explain. Yes Application for Funding, 1998 Page 5 Yakima County SIED Program Yakima County Board Supporting Investments In Economic Diversification C. FINANCIAL INFORMATION ON CITIES, TOWNS, PORT DISTRICTS AND COUNTIES • This section examines the general financial status of cities, towns, and counties to determine the need for SIED assistance. C1. Identify funds (General Fund, Utility Fund, Property taxes, etc.) that are eligible to repay a SIED loan. C2. In the context of the local government's overall annual budget, explain the need for SIED assistance. If the applicant has budget reserves, please explain why these funds are not available for the project? The City of Yakima has been forced in recent years to dip into reserves just to balance the General Fund budget, and those reserves are now at critically low levels. The road and streets capital budget has also taken on a number of initiatives in recent years that stretch our financial capacity, making this type of investment cost prohibitive without external funding sources. • C3. If the local jurisdiction is not financially contributing to the project, please explain why. C4. Has the use of revenue or general obligation bonds, LID, ULIDS been explored for this public facility project? Yes No . Explain the outcome and describe why these financing sources would or would not be applicable for this project. • C5. Will a revenue stream be generated that could repay a SIED loan outside of the system's normal operations and maintenance costs? Yes No_X. Please explain. • Private project will generate some new tax revenues but these resources will not be sufficient to repay a SIED loan. • .• Application for Funding, 1998 Page 6 Yakima County SIED Program Yakima County SIED Board • Supporting Investments In Economic Diversification C6. Other public sources of funding for public economic development projects are listed below. Indicate wh public sources were investigated to fund this project, in addition to SIED. Indicate what the outcome was. YES NO OUTCOME FEDERAL: Economic Development Administration _ _X_ Not eligible Rural Development _ _X_ Not eligible T21 (ISTEA) _ X Not eligible Other: X • STATE: Transportation Improvement Board _ _X_ Not eligible Community Development Block Grant _ _X_ Not eligible Public Works Trust Fund _X Not eligible Department of Ecology _ _X_ Not eligible CERB _ _X_ Not eligible RTPO /MPO _ _X_ Not eligible WSDOT _ _ X_ Not eligible Explain why SIED funds are necessary and the outcome of the investigation of other fund sources: Based upon the small size of the project and the short timeline to assist and leverage private investment, the above funding sources for this project would not be eligible for the above funding sources. Community Development Block Grants are invested by the City of Yakima in the City's • Renewal Community Area. The Airport does not qualify for this designation. • Application for Funding, 1998 Page 7 Yakima County SIED Program Yakima County SIED Board • Supporting Investments In Economic Diversification D. PRIVATE SECTOR COMMITMENT D1. In order to show that a specific private investment is ready to occur, but will do so only if SIED assistance is made available to the applicant, SIED requires a signed Contingency Agreement(s) between the applicant and the private sector representative(s). If a developer is involved, there must also be a signed Contingency Agreement between the developer and the proposed tenant. D2. Describe the proposed private development or expansion project that will be supported by the public facility project. Itaistone is going to build a new manufacturing facility near 23 avenue and Ahtanum Road. The company is headquartered in Hood River, Oregon and this expansion allows the company to increase sales and better serve the Washington State market for their custom marble and granite countertops, floors, and interior furnishings. D3. Name of private sector firm: Itaistone US Address: 3399 Guignard Rd. Hood River, OR 97031 Phone /Fax: 541 - 387 -2691 Contact Person: Gjino Ilias D4. Explain why the private development requires the proposed public infrastructure improvements described in this application. 111 The street, water, and sewer improvements must be completed for the business to obtain an occupancy permit. • • • Application for Funding, 1998 Page 8 Yakima Count- SLED Program Yakima County SIED Board Supporting Investments In Economic Diversification D5. List the number of projected jobs, by job type, to be retained and /or created by the firm as a direct result of the public infrastructure project supporting the private development. Jobs must be expressed in Full Time Equivalents (FTEs). Wage data should exclude fringe benefits. *Management positions should be indicated as an annual salary. Current # Of # Of Jobs # Of Jobs Jobs Retained ** Created Year 1 Created by Year Current or initial Job Description (In FTEs) (In FTEs) 3 (In FTEs) Hourly Wages Mgmt. /Admin* 3 $20 Technical /Prof. 2 $16 Office /Clerical 2 $16 Production 8 8 $18 • Sales . Skilled Crafts Others a) Number of Jobs * *Retained _0 • b) Projected annual gross payroll for all job classifications $500,000 by end of first year c) How many of these positions are for seasonal work? (In FTE) 0 d) What kind of fringe benefits does the company offer to regular full time employees? Medical Insurance, Vacation, and sick time. D6. Will this project displace existing jobs in any other part of the county? No D7. How were job projections developed? Explain why the projections are realistic. Jobs projections are based on operations of a similar facility in Hood River, Oregon • • Application for Funding, 1998 Page 9 Yakima County SIED Program Yakima County SIED Board Supporting Investments In Economic Diversification - D8. Will the private sector project offer ex_ panded employment opportunities to disadvantaged or unemployed � workers? How will the firm work to hire people from Yakima County? The company wants to attract its workforce from the local labor market. The company will post jobs at the local WorkSource office and work with community based organizations to see how disadvantaged or unemployed workers meet their skill requirements. D9. Indicate the construction schedule (if applicable) for the proposed private sector project. (month /year) Private Facility Construction Begins April 2008 Private Facility Construction Completed July 2008 Private Facility Operational August 2008 D10. List all permits required for the PRIVATE SECTOR PROJECT and give their current status (applied for, application being prepared, permit issued, etc.) All permits were secured by the contractor. ANTICIPATED PERMIT /ENVIROMENTAL COMPLETION REVIEW ISSUER STATUS DATE gra Building permits City of Yakima submitted April 2008 NOTE .. ALCREQUIRED.`PER WITHIN SIX ,MONTHS ITS TOCOfVIPLETE TFIE PROJECT MIDST BE S • �.OF A SIED OFFER OF FINANCIAL AID D11. What private authorizations remain prior to proceeding with the proposed private development project? None D12. Explain how the private sector is financing their capital investment in this project. When will private sector financing be in place? Please list financial references that can verify financing sources and capacity for this project. A combination of private equity and an SBA loan from Columbia River Bank (Hood River branch) III Application for Funding, 1998 Page 10 Yakima County SIED Program